JPMorgan Faces New Overtime Suit

Law360 (December 20, 2006, 12:00 AM EST) -- Undeterred by a recent Department of Labor determination that called brokers exempt from overtime, two former financial consultants have reportedly sued JPMorgan Chase & Co. for failing to properly pay them for all hours worked over 40 per week.

This latest suit, which was filed Tuesday before the U.S. District Court in Manhattan, was at least the second proposed class action brought against JPMorgan in the last couple of months. In the complaint, financial consultants Alan B. Krichman and James C. Howell alleged that they were...